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According to classical test theory, errors of measurement are
Tactical Decisions
Short-term decisions made within the framework of a company's strategic plans, often involving the allocation of resources or adjustment of operations.
Sunk Costs
Costs that have already been incurred and cannot be recovered or altered by future actions or decisions.
Opportunity Cost
Opportunity cost represents the benefit that is missed or given up when choosing one option over another, an important concept in decision-making.
Tactical Decision
Short-term choices made by an organization, often in response to immediate challenges, that are aimed at implementing strategies effectively.
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